American Classic Voyages Co. Signs Coastal Cruise Vessel Shipyard Contract; Plans Set for New Fleet of Small U.S.-Flag Ships to be Built At Atlantic Marine, Inc.CHICAGO--(BUSINESS WIRE)--May 11, 1999-- American Classic Voyages Co. (Nasdaq:AMCV AMCV Average Monthly Copy Volume ) and Atlantic Marine, Inc. today announced the signing of a shipyard construction contract for the first two vessels in Delta Queen The Delta Queen is an American sternwheel steamboat. The Queen is 285 feet long (86.9 meters), 58 feet (17.7m) wide, and draws 11.5 feet (3.5m). The boat weighs 1,650 tons (1,676 metric tons), with a capacity of 200 passengers. Coastal Cruises, a new fleet of 226-passenger U.S.-flag coastal ships. Under the terms of the $60 million contract, Atlantic Marine will build two 300-feet diesel-driven, 226-passenger vessels, with an option for a third vessel. The fixed contract price for each of the initial two ships Two Ships is a single by the folk duet, The Sallyangie, released in 1969. Track listing
Philip Calian, president and chief executive officer of American Classic Voyages, said, "The coastal ships will capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. Delta Queen's reputation and its tradition of showcasing the history, heritage and magnificent scenery that abounds across our country." Edward Doherty, president of Atlantic Marine, said, "This contract is acknowledgement of our reputation for building quality vessels that exceed owner specifications, and delivering them on time." Tentative itineraries for the new vessels include: East Coast cruises that will begin or culminate in Halifax, Nova Scotia For other uses, see Halifax. Halifax, Nova Scotia may refer to any of the following:
New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. ; Philadelphia; Baltimore; Washington, D.C.; Norfolk; Jacksonville; and Miami; West Coast cruises round-trip from San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden ; Pacific Northwest cruises including Anchorage to Juneau; Juneau round-trip, Seattle round-trip and Portland, Oregon, round-trip. According to Calian, "These vessels are a natural expansion of our existing Delta Queen franchise. These new vessels will be destination oriented, with an extensive program of shore excursions to wonderful American places like Martha's Vineyard; Charleston, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. ; Glacier Bay, Alaska; and Redwood City, California Redwood City is a suburb located on the San Francisco Peninsula in the San Francisco Bay Area of California. Redwood City is the county seat of San Mateo County. As of the 2005 census, the city had a total population of 76,000. ." Coastal Cruises will augment American Classic's existing Delta Queen Steamboat steamboat: see steamship. steamboat or steamship Watercraft propelled by steam; more narrowly, a shallow-draft paddle-wheel steamboat widely used on rivers in the 19th century, particularly the Mississippi River and its tributaries. Co. fleet: the DELTA QUEEN, the MISSISSIPPI QUEEN, and the AMERICAN QUEEN. They are America's only authentic steam paddlewheelers that have overnight staterooms and offer 3- to 14-night cruises on several inland waterways throughout the Old South and the heartland region. Atlantic Marine, Inc., based in Jacksonville, Fla., has constructed 239 vessels in its history spanning the entire spectrum of the marine industry. Included are passenger and vehicle ferries, oceanographic research vessels, tug boats, offshore oil support vessels, fishing vessels Customary International Law provides that coastal fishing boats and small boats engaged in trade, as distinguished from seagoing fishing boats and large traders, are immune from attack and seizure during war. This Immunity is lost if fishing vessels take part in the hostilities. and casino vessels. American Classic Voyages also owns and operates American Hawaii Cruises. American Hawaii creates an authentic Hawaiian experience aboard the S.S. INDEPENDENCE, the only ocean liner that sails exclusively in Hawaii year-round, visiting 5 ports on 4 islands in 7 days. In March 1999, the company signed a shipyard contract with Ingalls Shipbuilding of Pascagoula, Mississippi, to construct, for Hawaii service, the largest U.S. cruise ships ever built and the first large cruise ships built in America in more than 40 years. The first of these state-of-the-art luxury cruise ships will be delivered in January 2003. For additional information about American Classic Voyages, visit our Internet sites on the World Wide Web at http://www.deltaqueen.com, http://www.cruisehawaii.com and http://www.amcv.com. Note: A photo of the Delta Queen Coastal Cruises model is accessible at Businesswire Online: http://www.businesswire.com. Note: Statements in this press release relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performances or achievements of American Classic Voyages Co. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general business, economic and weather conditions which may impact passenger yields and occupancy and the demand for the Company's products; unscheduled repairs and dry-docking of the Company's vessels; delays or the inability to enter into definitive construction agreements on commercially reasonable terms; construction delays and/or cost overruns during regularly scheduled lay-ups and/or dry-docks or in connection with the construction of new vessels; successful completion of expansion plans, including the construction of new vessels; the impact of changes and/or repeal of laws and implementation of government regulations, and other factors which are described in further detail in American Classic Voyages' filings with the Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion